GameStop has reported its quarterly results for the period ending May 4, with total revenues down 6.8% year-over-year to $1.87 billion, noting declines in both hardware sales and new software. Profits came in at $54.6 million, down 25% year-over-year.

GameStop has reported a 3.1 percent drop in sales to $1.74 billion during its second quarter. Profit came in at under $10 million from $40.3 million to $30.9 million for the quarter. The firm attributed the sales decline to slow hardware sales and a lack of new software releases compared to July 2010.